Marpai (NASDAQ:MRAI) Raised to Buy at Maxim Group

Marpai (NASDAQ:MRAI) was upgraded by research analysts at Maxim Group from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a $6.00 price target on the stock. Maxim Group’s price target points to a potential upside of 130.77% from the company’s previous close.

Marpai Price Performance

MRAI stock traded up $0.52 during trading on Thursday, hitting $2.60. The stock had a trading volume of 544,923 shares, compared to its average volume of 875,598. Marpai has a twelve month low of $0.33 and a twelve month high of $13.60. The stock has a market capitalization of $26.70 million, a P/E ratio of -0.59 and a beta of 5.25. The company’s 50-day moving average price is $1.63 and its two-hundred day moving average price is $1.31.

Marpai (NASDAQ:MRAI) last posted its quarterly earnings data on Tuesday, March 26th. The company reported ($0.65) earnings per share (EPS) for the quarter. Marpai had a negative return on equity of 789.96% and a negative net margin of 77.38%. The firm had revenue of $8.71 million during the quarter.

Insider Buying and Selling

In related news, CEO Damien Lamendola bought 1,100,000 shares of the stock in a transaction dated Tuesday, January 16th. The shares were acquired at an average cost of $0.92 per share, for a total transaction of $1,012,000.00. Following the acquisition, the chief executive officer now directly owns 1,951,306 shares in the company, valued at approximately $1,795,201.52. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have bought 2,022,100 shares of company stock worth $2,524,632. Insiders own 61.30% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Marpai stock. Jane Street Group LLC purchased a new stake in shares of Marpai, Inc. (NASDAQ:MRAI) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 24,490 shares of the company’s stock, valued at approximately $25,000. Jane Street Group LLC owned 0.12% of Marpai as of its most recent filing with the SEC. Institutional investors and hedge funds own 49.75% of the company’s stock.

Marpai Company Profile

Marpai, Inc, a technology-driven healthcare payer, focuses on providing services to the self-insured employer market in the United States and Israel. The company offers ancillary services, such as care management, case management, actuarial services, health savings account administration, bill review and cost containment services.